MINUTES OF THE REGULAR ANNUAL MEETING OF THE BOARD OF DIRECTORS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SUFFOLK OCTOBER 9, 2024 AT 4:00 P.M. AT THE SUFFOLK MUNICIPAL CENTER BUILDING, 442 WEST WASHINGTON STREET, CONFERENCE ROOM3 3 MEMBERS PRESENT Mary Snyder, Chair Wesley King, Vice-Chair Anthony Harper Karmina Lockwood (Arrived at 4:11p.m.) Chris Rice Simon Stevenson William Webb MEMBERS ABSENT: STAFF PRESENT: BJV Wille, Secretary-Treasurer Kevin Hughes, Deputy City Manager Deanna Trimyer, Assistant Director of Economic Development Terry Smith, Senior Business Development Manager Sheena Idlette, Economic Development Associate Charles Meek, Director of Finance Chris Briardy, Financial Reporting and Compliance Manager Darius Davenport, Crenshaw, Ware & Martin OTHERS PRESENT: CALL TO ORDER Ms. Snyder called the meeting to order at 4:01 p.m. OLDI BUSINESS Minutes. Mr. Rice moved to approve the minutes of the regular meeting of September 11, 2024. The motion was seconded by Mr. Webb and carried the following recorded vote: Ayes: Nays: Abstain: Motion Passed Harper, King, Rice, Snyder, Stevenson, Webb (6) None (0) None (0) Financial Report. Ms. Snyder acknowledged the inclusion of the financial reports for the period ending July31,2 2024 and August 31,2024. Mr. Briardy discussed thei financial results fori the month toi include thatt the EDAI budgetcontinues tol have positive revenues over expenditures. Board of Directors Meeting October 9, 2024 Page 2 NEW BUSINESS Commonwealth Opportunity Fund Agreement - Solenis LLC. Ms. Smith discussed the Commonwealth Opportunity Fund Agreement for Solenis LLC. Mr. Rice made a motion that the Board accept. A RESOLUTION AUTHORIZING THE EXECUTIONOFACOMMOMWEALTHOPPORTUNITYFUND PERFORMANCE, AGREEMENTO CONCERNING SOLENIS LLC. The motion was seconded by Mr. Harper and carried the following recorded vote: Ayes: Nays: Abstain: Motion Passed Harper, King, Rice, Snyder, Stevenson, Webb (6) None (0) None (0) Pont at Harbour View Mr. Hughes briefed the board ont the Point at Harbour' View. Façade Grant Application - Conner's Deli & Catering (1330! Holland Road) - Mrs. Trimyer gave thel Board an overview of an application submitted by Conner's Deli & Catering for al Façade Grant in the amount of$ $10,000 for the business located at 1330 Holland Road. Mrs. Lockwood moved to approve the grant. The motion was seconded byl Mr. Ricea and carried the following recorded vote: Ayes: Nays: Abstain: Motion Passed Harper, King, Lockwood, Rice, Snyder, Stevenson, Webb (7) None (0) None (0) Hampton Roads Alliance Monthly Newsletter. Ms. Snyder presented the September 2024 Hampton Roads Alliance Suffolk Marketing Activity Report. Ms. Snyder presented the September 2024 Suffolk Marketing Activity Report. Downtown E-Newsletter. Ms. Snyder presented the October 2024 Downtown E-Newsletter. Suffolk E-Newsletter. Ms. Snyder presented the October 2024 Suffolk E-Newsletter. Monthly Newsletter. Ms. Snyder reminded the Board that the next meeting will be on Wednesday, November 13, 2024 at 4:00 p.m. at the Suffolk Municipal Building, 442 West Washington Street, City Council Conference Room. Adjourn. There being no further business, the EDA meeting was adjourned by Ms. Snyder at 4:27 p.m. Approved: ka hylew Teste: wwg B4w